ETHZilla Launches Aircraft Jet Engine Token

ETHZilla (ETHZilla), a crypto reserve company, is launching a token backed by jet engines leased to U.S. airlines as the underlying asset.

According to Cointelegraph, a crypto-focused media outlet, on the 13th (Korea time), ETHZilla said it will issue 'Eurus Aero Token I (Eurus Aero Token I)' through its subsidiary 'ETHZilla Aerospace.' The token is backed by two commercial jet engines currently leased to major U.S. airlines.

The token is priced at $100 each, with a minimum purchase of 10 tokens. The company said it is targeting an approximately 11% yield for investors who hold to maturity, taking into account that the engine lease contracts run through 2028.

Previously, in January, ETHZilla purchased two jet engines for a total of $12.2 million for this business. At the time, the company said it would move beyond a simple crypto-holding strategy and pursue a business of putting assets on the blockchain.

ETHZilla plans to expand its tokenization business into other asset classes, including residential mortgages and auto loans, going forward.